Description

We are pleased to present Copper Creek Plaza for your acquisition review. The property is a 29,010 square foot multi-tenant retail center on four acres in Pleasant Hill (Des Moines MSA), Iowa. The property is currently approximately 80 percent occupied with rents below the prevailing average in the submarket. This investment presents an owner with the opportunity to purchase a well constructed neighborhood center with significant upside when the leasing environment improves.

Des Moines is a major center for the insurance industry and also has a sizable financial services and publishing business base. Des Moines was credited with the "number one spot for U.S. insurance companies" in a recent Business Wire article. The city is the headquarters for the Principal Financial Group, the Meredith Corporation, Ruan Transportation, EMC Insurance Companies, and Wellmark Blue Cross Blue Shield. Other major corporations such as Wells Fargo, ING Group, Nationwide Mutual Insurance Company, Marsh, and Pioneer Hi-Bred have large operations in or near the metro area. Forbes Magazine ranked Des Moines as the fourth "Best Place for Business" in 2007. Kiplinger's Personal Finance 2008 Best Cities List featured Des Moines as number nine.